Grandunion has acquired 18,977,778 newly issued common shares in Greek shipping line Aries Maritime Transport in exchange for three Capesize drybulk carriers.

According to a statement, 2,666,667 shares were transferred to Rocket Marine in exchange for Rocket and its affiliates entering into a voting agreement with Grandunion.

Under this voting agreement, Grandunion controls the voting rights relating to the shares owned by Rocket and its affiliates.

Grandunion now owns approximately 34.2% of Aries and, as a result of the voting agreement, controls the vote of approximately 71% of Aries’ outstanding shares.

Post closing, Aries’ 14 vessel fleet will consists of four Panamax tankers, five MR tankers, two container vessels, three Capesize drybulk vessels totalling 477,000dwt.